Pyridine Market is Expected to Grow at a CAGR of 4.95% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Global Pyridine Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Pyridine market witnessed a strong demand in the past five years and is projected to achieve a CAGR of 4.95% during the forecast period owing to its utilization in synthesizing of a variety of products such as agrochemicals (pesticides & herbicides), medicines such as antibiotics and antiviral etc., vitamins (Vit-B3 & B6), food additives, dyes, adhesives and paints. Additionally, increasing demand of Pyridine as a denaturant in manufacturing antifreeze mixtures owing to its superior chemical functionality that are used in automobiles is likely to drive the market for Pyridine.

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Pyridine is a colorless to pale yellow, toxic and flammable compound with a strong unpleasant odor, exhibiting high solubility in water and other organic solvents, either employed as a solvent or reagent in specialized chemical manufacturing. It can either produce from Coal tar, its natural source or commercially manufactured by synthesis reactions like Bonnemann cyclization, Chichibabin synthesis and Cobalt-catalyzed alkyne-nitrile cyclomerizing utilizing ammonia and acetaldehyde as raw materials. Pyridine is extensively utilized as a precursor in agriculture industry for manufacturing of agrochemicals such as herbicides, and pesticides as well as pyrithione base fungicides. In addition, increasing usage of Pyridine as beta Picoline in Pharmaceutical industry to produce vitamin B3 and B6, a nutritious additive for food and beverage industry, is anticipated to drive the demand for the product in the forecast period

Agrochemicals as well as Pharmaceuticals sectors that are the major consumers of Pyridine, were not much impeded during the Pandemic as there was limited immediate impacts of the pandemic on primary agriculture as well as the spread of corona virus further prompted the demand for Pyridine in the Pharmaceutical industry as people are eager to look for nutritious products to boost their immunity as a preventive measure for virus. Additionally, its utilization as a precursor for various antibacterial and antihistamine medicines along with its rising demand for manufacturing Vinyl Pyridine Latex for automobile tyres and conveyor belt are expected to propel as a potential segment in the growth of Global Pyridine Market.

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The Global Pyridine market is anticipated to witness a healthy growth with majority of the consumption share coming from Asia Pacific (APAC) Region. Factors like rapidly expanding pharmaceutical sector along with the growing agrochemical industry due to the presence of major agricultural countries like China and India have fueled the growth of the market for Pyridine in Asia-Pacific. Moreover, APAC is the global production hub for Pyridine, hence, China followed by India is the largest producer and consumer of Pyridine. The consumption of Pyridine in APAC region is expected to spur in the coming years under plans of capacity expansions of derivative, niacinamide in China coupled with the presence of global manufacturers of Pyridine such as Jubilant Life Sciences, Vertellus Specialties Incorporation and Red Sun Group in the region. Moreover, Europe and Latin America are likely to witness substantial increase in demand, owing to the rising interest of companies to uphold the growing market of pharmaceuticals and agrochemicals.

According to ChemAnalyst report, “Global Market By Global Pyridine Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Pyridine globally include Vertellus Specialties Incorporation, Jubilant Life Sciences, Lonza Group Limited, Bayer AG, Red Sun Group, Mitsubishi Chemicals, Resonance Specialties Limited , Shangdong Luba Chemical Corporation Limited, Weifang Sunwin Chemical Company Limited, Koei Chemical Company Limited, Hubei Sanonda, Chang Chun Petrochemicals Corporation Limited and Prochem Incorporation etc.

“Being linked to the Pharmaceuticals and Agrochemical industry, the global Pyridine industry has shown a robust growth alongside growing population and changing consumer preferences. Due to its wide range applications as a solvent in chemicals and adhesives, sulfonating agent, reducing agent, as denaturant for antifreeze mixtures and as precursors to antibacterial drugs & agrochemicals, antiseptic in dental care products etc. are likely to impel its market in the forecast period. With new competitors emerging across the Asian Pyridine market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

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